DexCom (NASDAQ:DXCM) Receives Buy Rating from TD Cowen

Key Points

• TD Cowen reaffirmed its Buy rating on DexCom and set a $95 price target, implying 7.16% upside from the prior close.
• Analysts maintain an overall “Moderate Buy” consensus, with an average target price of $89.08; recent targets range from $82 to $102.
• DexCom recently exceeded quarterly expectations, reporting $0.70 EPS versus $0.61 estimated and $1.31 billion in revenue, up 13.1% year over year.

DexCom (NASDAQ:DXCM - Get Free Report)'s stock had its "buy" rating restated by stock analysts at TD Cowen in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $95.00 price target on the medical device company's stock. TD Cowen's price target indicates a potential upside of 7.16% from the company's previous close.

Several other research firms have also recently issued reports on DXCM. Canaccord Genuity Group set a $90.00 price objective on shares of DexCom and gave the company a "buy" rating in a research report on Monday, August 3rd. UBS Group set a $96.00 price objective on DexCom and gave the company a "buy" rating in a research report on Tuesday, July 28th. Truist Financial set a $102.00 price target on shares of DexCom in a report on Friday. JPMorgan Chase & Co. boosted their price target on DexCom from $65.00 to $82.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada boosted their price objective on shares of DexCom from $85.00 to $90.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $89.08.

DexCom Price Performance

Shares of DXCM traded up $0.72 during midday trading on Friday, hitting $88.65. 836,825 shares of the company traded hands, compared to its average volume of 5,078,949. The stock has a market cap of $33.45 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 1.46 and a beta of 1.42. The firm has a 50 day moving average of $83.82 and a 200-day moving average of $73.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.43 and a current ratio of 1.73. DexCom has a 52 week low of $54.11 and a 52 week high of $92.59.

DexCom (NASDAQ:DXCM - Get Free Report) last announced its earnings results on Thursday, July 30th. The medical device company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. DexCom had a net margin of 20.12% and a return on equity of 35.94%. The firm had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the prior year, the company earned $0.48 EPS. The business's revenue was up 13.1% compared to the same quarter last year. On average, analysts forecast that DexCom will post 2.64 EPS for the current fiscal year.

Insider Activity

In other news, Director Mark Foletta sold 2,000 shares of DexCom stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $85.32, for a total value of $170,640.00. Following the sale, the director owned 48,852 shares in the company, valued at $4,168,052.64. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin R. Sayer sold 26,756 shares of DexCom stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $76.32, for a total value of $2,042,017.92. Following the completion of the sale, the insider owned 328,970 shares in the company, valued at approximately $25,106,990.40. The trade was a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 73,504 shares of company stock worth $5,651,332. Insiders own 0.28% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Reflection Asset Management purchased a new position in shares of DexCom during the fourth quarter worth $25,000. Ascentis Independent Advisors purchased a new stake in shares of DexCom in the 1st quarter valued at $25,000. MCF Advisors LLC acquired a new position in DexCom during the 4th quarter worth about $32,000. Wellington Grp LLC lifted its stake in DexCom by 778.7% during the 1st quarter. Wellington Grp LLC now owns 536 shares of the medical device company's stock worth $34,000 after acquiring an additional 475 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in DexCom during the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 97.75% of the company's stock.

About DexCom

DexCom, Inc develops and commercializes continuous glucose monitoring (CGM) systems that measure glucose levels in real time. Its technology is designed to help people with diabetes monitor glucose trends and make more informed treatment and lifestyle decisions without relying solely on traditional fingerstick testing.

The company's products include the Dexcom G7 and Dexcom G6 CGM systems, which use a small wearable sensor, transmitter or integrated sensor, and mobile applications to display glucose data.

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